Business Briefing: Bilingual job applicants to be in demand

New research cites bilingual and multilingual college graduates will be in demand within five years.

According to findings by the Northern Illinois University Center for Governmental Studies, one in five, or 78 percent, of employers surveyed in northern Illinois said the ability to speak more than one language will be an invaluable skill set. Another 71 percent believe bilingual and multilingual skills can enhance customer retention and satisfaction.

The study cited Spanish as the most useful language, followed by Polish and Mandarin Chinese.

The Federal Reserve has so far declined to raise interest rates in light of a growing U.S. economy, which is now in its seventh straight year of expansion. The growth is coming at a 2.2 percent annual rate. Unemployment has dropped from a 10 percent peak to a 5.1 percent while auto and home sales have also increased. Learn more here.

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In Finland, a one-day strike of the country’s public transportation workers have shut down ports. Workers are protesting against government cutbacks and have forced trains and city buses to stop running. Find out more here.